The United Arab Emirates (UAE) recently wrapped up a successful Dubai Airshow 2023 witnessing significant aviation deals worth more than $100 billion and key industry announcements.
The Dubai Airshow 2023 saw more than $101 billion of aviation deals, according to the official statement.
The 18th edition of the week-long Dubai Airshow 2023 saw contracts worth AED23.06 billion ($6.3 billion) signed with both local and international companies, according to Tawazun Council, an independent government entity collaborating closely with the Ministry of Defense and security agencies to optimize value in acquisition systems. These included a deal with HALCON to procure ammunition worth AED2.14 billion.
Tawazun Council also inked two agreements with International Golden Group, one valued at AED338 million for technical aircraft support, and the other, totaling AED13 million, for the procurement of engines and aircraft parts.
The Airshow was held under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. More than 135,000 witnessed the Airshow, a significant 30% increase in attendance compared to the previous edition.
The next edition of the Dubai Airshow is scheduled to take place in 2025 at Dubai World Central (DWC), Al Maktoum Airport.
Emirates orders 95 Boeing jets worth $52 Billion at Dubai Airshow
Dubai’s national carrier Emirates struck a $52 billion mega-deal with Boeing on the first day of the show, ordering an additional 90 aircraft. The deal brings Emirates’ total orders to 295 aircraft. The deal was signed in the presence of the emirate’s crown prince.
Emirates-Boeing Deal:
- x55 777-9 aircraft
- x35 777-8 aircraft powered by GE-9X engines
- x202 GE-9X engines to power the additional 777X aircraft
Emirates plans to add the initial 777-9 to its fleet by 2025 and expects deliveries of new 777-9 aircraft to continue until 2035. Additionally, the first 777-8 is projected to join the Emirates fleet by 2030 with this new order. The Boeing 777 aircraft can take flights lasting up to 18 hours.
“Emirates Airlines’ business model, from day one, has been to operate modern, efficient wide-body aircraft, capable of transporting large numbers of passengers in comfort and safety, over long distances to, from and through Dubai. Today, our orders are confirmed. Buying planes again on this strategy,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and the Group.
Sister airline flyDubai also signed its first deal for wide-body jets, agreeing to procure 30 Boeing 787-9.
Emirati defense group signs nearly $2 Billion deals
The UAE defense conglomerate, EDGE Group, also sealed contracts totaling at least $1.8 billion at the Airshow, with the Emirati military emerging as a key client.
The majority of EDGE Group’s deals stemmed from a $1.1 billion contract with the UAE Ministry of Defense for aircraft munitions, specifically Mk. 81, Mk. 82, Mk. 83, and Mk. 84 air-to-ground munitions manufactured and supplied by EDGE’s Lahab Defence Systems, the company said.
“This contract … reflects our ambitions to develop capabilities that meet future needs in the long term. We look forward to continuing to provide support and strengthening our commitment to the Ministry of Defence,” said Hamad Al Marar, president of EDGE’s Missiles & Weapons unit.
The UAE Ministry of Defense also signed a contract worth $132.6 million (AED487 million) for EDGE subsidiary Adasi’s RASH 2M and 2H systems, specialized modular gliders converting standard munitions into precision-guided ones.
Notable deals
- Emirates placed a $52 billion order for 95 wide-body aircraft, including Boeing 777-9s, 777-8s, and 787s.
- Additionally, Emirates invested $6 billion in 15 Airbus A350-900 jets during the show, supporting its expansion.
- Ethiopian Airlines Group penned an MoU for 11 Airbus A350-900s, solidifying its position as Africa’s primary A350 customer.
- The airline also committed to 11 787-9 Dreamliners and 20 737 MAX 8 aircraft, with options for 15 and 21 more jets, respectively.
- airBaltic confirmed an order for 30 A220-300s, becoming the largest A220 customer in Europe, while Boeing and flydubai agreed on 30 787-9 Dreamliners, marking substantial deals at the event.